Economic Forecast: Expectations High, but Less Long-Term Optimism

The latest Urban Land Institute (ULI) Real Estate Economic Forecast predicts modest fluctuations across the board for 27 economic/real estate indicators. The three-year forecast is completed semi-annually, surveying over 48 economists and analysts at 36 real estate organizations. A leading concern? Rising interest rates. ULI forecasts interest rates to be 0.4 percent higher in 2018 […]

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Wells Fargo Fined $1 Billion for Abusive Insurance, Mortgage Practices

The government has handed down a $1 billion penalty to Wells Fargo for abusive consumer practices related to its administering of auto insurance and extensions on mortgage rate locks. In addition to the fine, the bank has been ordered to remediate affected consumers and implement improved practices. In 2017, Wells Fargo acknowledged it had charged […]

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Across the U.S., Affordability and Inventory Remain Unbalanced

Fewer homes are priced within reach today, according to the REALTORS® Affordability Distribution Curve and Score from the National Association of REALTORS® (NAR) and realtor.com®. Affordability is being challenged by increasing prices and rates, the report states. Affordability is most untenable in California, Hawaii, Montana, Oregon, Rhode Island and Washington, D.C.—all with “Affordability Scores” considerably […]

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Across the U.S., Affordability and Inventory Remain Unbalanced

Fewer homes are priced within reach today, according to the REALTORS® Affordability Distribution Curve and Score from the National Association of REALTORS® (NAR) and realtor.com®. Affordability is being challenged by increasing prices and rates, the report states. Affordability is most untenable in California, Hawaii, Montana, Oregon, Rhode Island and Washington, D.C.—all with “Affordability Scores” considerably […]

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Get Ready for the Rush: Homes Were Snapped Up in 2017

If 2017 is any indication, buyers will be against an all-out frenzy this spring and summer. In 2017, the median listing was snatched up in 81 days—a record, according to data from Zillow. Competition was fiercest in June, with 73 days on-market for the median listing. (Closings are included in the timeline.) In almost every […]

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Housing Starts Overall Upsurge, While Single-Family Wanes

Home-building in March picked up, with housing starts on a 1.9 percent surge and totaling 1.32 million, according to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD). Single-family starts waned, down 3.7 percent to 867,000. Multifamily starts (five units or more) came in at 439,000. “The modest decline in single-family […]

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Black Buyers at a Disadvantage Over Others: Zillow

Affordability is a growing problem—but for black buyers, it has created a deep disadvantage over other groups, according to an analysis newly released by Zillow. Based on the black household income (a median $39,466), and without exceeding the 30 percent housing spend standard, black buyers could afford just 55.3 percent of listings nationwide in 2017—a […]

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Black Buyers at a Disadvantage Over Others: Zillow

Affordability is a growing problem—but for black buyers, it has created a deep disadvantage over other groups, according to an analysis newly released by Zillow. Based on the black household income (a median $39,466), and without exceeding the 30 percent housing spend standard, black buyers could afford just 55.3 percent of listings nationwide in 2017—a […]

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Making the Next Play: With Instant Offers, Zillow to Begin Buying and Selling

Zillow announced on Thursday it is becoming a buyer and seller through its Instant Offers platform, beginning in Las Vegas and Phoenix with Premier Agents this spring. Arik Prawer, formerly chief integration officer at Invitation Homes, has been appointed chief business development officer to oversee the participation of Zillow on the platform. On Instant Offers, […]

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NAR Pauses Logo Release to ‘Examine’ Redesign

Members Voice Opinions Prompting Further Consideration Days after the announcement that the National Association of REALTORS® (NAR) branding had been redesigned—including the introduction of a new REALTOR® “R”—the organization has announced it is “pausing its implementation” after evaluating feedback from its members. Following the announcement on Monday that NAR was rolling out the newly revised […]

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